Russia Surpasses Saudi Arabia in Oil Exports to China

China's crude Imports from Russia have increased 18 percent year over year in November, surpassing Saudi Arabia as the nation's top oil supplier, according to data from Beijing-based General Administration of Customs.

Russian oil exports to China reached 3.90 million metric tons last month, up from 3.41 million mt in October, according to the data released today. That’s the third-highest volume on record.

China's total crude imports increased 7.6 percent in November from year-ago levels to 27.34 million mt. Refined product imports declined 20.8 percent from a year ago to 1.88 million mt. China's refined product exports increased 68.2 percent from a year ago to 4.1 million mt.

Imports from Saudi Arabia declined 8.6 percent year over year to 3.65 million mt, down from 3.99 million mt in October. That's the first decline in three months .... http://newsletters.briefs.blpprofessional.com